Associated Press to slash 10 percent of staff

The Associated Press, like virtually every business in the world, is defining strategies for operating in these complex and difficult financial times," the company added in a statement.

"All areas and ways of doing business are being reviewed," it said. "The AP, which recently instituted a strategic hiring freeze, may need to reduce staff over the next year.

"If so, it hopes to achieve much of the reduction through attrition," the statement said. "While we are looking for new efficiencies in the way we operate, AP's mission as the essential global news network does not change."